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(833) HOME-661
Home661
425 W 4th, Long Beach, CA 90802
- $1,600,000
- List Price
- $1,600,000
- Status
- ACTIVE
- MLS#
- PW26218881
- Year Built
- 1920
- Lot Size
- 3,206
- Acres
- 0.07
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 3
- Property Type
- Multifamily
- Property Sub Type
- Apartment
- Stories
- Three Or More Levels
- Neighborhood
- Willmore District (Wm)
Property Description
Welcome to 425 W 4th St, a well preserved 1920s multifamily property in the historic Willmore City neighborhood of Downtown Long Beach. The building blends vintage character with modern upgrades. It offers oversized one bedroom units of approximately 800 SF, each with a large double door walk in closet suitable for storage, a home office, or flex space. Original built ins, distinctive architectural moldings, and beautifully refinished original hardwood floors give the units a charm that is hard to find in today's rental market. Most units have been upgraded with modern kitchens and baths featuring quartz countertops and new tile, and select electrical and plumbing improvements have also been completed. Each unit includes its own washer and dryer, which is rare for vintage downtown product. The property has a 92 Walk Score and sits three blocks from the ocean. It is close to the new courthouse, parks, dining, transit, and major freeways, within a submarket with low vacancy and consistent tenant demand. It offers approximately a 6% current cap rate with an estimated 20% rental upside, giving investors stable cash flow and meaningful room for income growth.
Additional Information
- Taxes
- $21,773
- Pool Description
- None
- Garage Spaces Total
- 1
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 7
- Gross Scheduled Income
- $154,137
- Operating Expense
- 53395
Listing courtesy of Listing Agent: Daniel Gomez (dgomez@younglewin.com) from Listing Office: Younglewin Advisors, Inc..
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.